Trading places on the net

Two WA businesses have joined forces to resurrect the 80s trend of home trading to give today’s buyers a new approach in the tough economic climate.
  
Tradehomes.com.au launched last week, in conjunction with OrangeTee Real Estate, to offer a forum where sellers can advertise their properties and negotiate an equal trade for other property, cash or any item with an asset value.
  
Common trade items include houses, land, vehicles, boats, gold, gems, stocks, bonds and jewellery, providing the traded assets total the value of the property’s price.
  
Trade Homes Australia director Kara Tripp said the service was nothing new but was giving a new breed of buyers and sellers a fresh option in a difficult market.
  
“At the end of the day, trading has always been going on behind the scenes, with people exchanging properties for properties etc; we are just creating a forum for people to do it,” Ms Tripp said.
  
“It is getting harder for some buyers to get finance so it is just thinking outside the box. If they have other assets, such as a boat, it is essentially turning that into property.” 
   

OrangeTee Real Estate was theexchanging properties for properties, providing support for traders at the negotiation and settlement stages.
  
“A lot of people get quite daunted when it comes to negotiating deals, so we thought it would be helpful to have experienced real estate agents on board, for people who like the idea but are not comfortable doing it themselves,” Ms Tripp said.
  
So far, one deal has involved the trade of an apartment for assets that included gemstones and gold.
  
REIWA president Rob Druitt said the practice was fine as long as it was well managed and researched, with all parties seeking the appropriate valuation and advice before entering into discussions.

 

LOUISE BAXTER  www.thewest.com.au

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Real estate, settlement agents convicted of bribery

Prominent real estate agent Michael McKenna and a Dianella settlement agent are among those who have been sentenced following an investigation into the bribing of Landgate officers.

Between them, four men were convicted of nine counts of bribery and fined $65,000.  

In the District Court in Perth yesterday, Judge Kevin Sleight heard settlement agent Gordon Andrew Poulton, 66, committed two counts of bribery by placing $1000 of gift vouchers into two envelopes and addressing them to Landgate supervisors.

Judge Sleight called Poulton’s efforts “abhorrent to our system” and fined him $10,000.

McKenna received a $20,000 fine and 12 month community based order, including 80 hours of community service work, after being convicted of three counts of bribery, while another man, whose name was suppressed, was fined $10,000 for one count of bribery.

Ian Croasdale, a former Landgate officer and self-confessed impersonator of television star Kenny, was earlier fined $25,000 and received a sentence for accepting three $500 bribes.

Croasdale was a qualified cartographer who had been employed by Landgate for 31 years until the Corruption and Crime Commission brought the bribery allegations.

www.watoday.com.au

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